Peloton is set to roll out a redesigned and less expensive version of its Tread machine next week after a month-long delay.
The machine will go on sale in the U.S., Canada and the U.K. for $2,495. However, users will still have to pay a $39 monthly fee to access workout programming and live classes.
The company was previously forced to recall its Tread and Tread+ machines after customers complained about the touchscreen falling off the Tread machine and a child died after being pulled under the Tread+ machine.
Since the incident, Peloton has included several new safety features, including a four-digit safety lock that users must enter to unlock the machine’s belt. The company has also included a removable safety key, which helps users instantly shut down the machine during their workout, as well as placement of speed and incline knobs on the side rails of the machine that are more easily accessible as they align with the natural swing of the arm, CNBC reported. Additionally, users can also choose to adjust the touchscreen on the Tread machine to tilt up or down by about 50 degrees, enabling them to more easily transition from a run to a floor workout.
“We’ve worked hard to make sure the new Tread truly earns its spot in members’ homes,” Chief Executive John Foley said in a statement. “We’ll always continue to innovate our hardware, software and safety features to live up to our commitment to member safety and to improving the full member experience.”
Currently, Peloton has a market cap of $31.8 billion. However, it has seen its shares decline by 29 percent year-to-date due to safety issues and product recalls.